Toshiba announced on December 15, 2010 that the company aims to sell two million units of LCD (Liquid Crystal Display) TV in China next fiscal year, according to Nikkei. It is reported that to achieve this goal, Toshiba will focus on the sales of value-line TV models in small- and medium-sized cities in China. Toshiba also plans to expand the company's share in the Chinese market from the current 2% to 5% in five years. Toshiba has formed a joint venture, Toshiba Visual Products, with Chinese electronics manufacturer TCL in July 2010, and the JV has been selling Toshiba-branded value-line LCD TVs since October this year. Under the cooperation with TCL, Toshiba is expected to increase its number of store in China from 2,200 to 15,000 in fiscal year 2013.
In related news, Toshiba announced on December 16, 2010 that the company will establish a joint venture with El Araby for LCD TV manufacturing in Cairo, Egypt, in a bid to strengthen Toshiba's TV business in the Middle East and Africa, according to a press release by Toshiba. Dubbed Toshiba El Araby Visual Products, the new JV is slated for volume production in March 2011, with an aim to produce approximately 600,000 units of LCD TV annually. It is reported that Toshiba plans to take up 15% market share in the Middle East and Africa region in fiscal year 2011. Toshiba plans to increase the JV's production capacity to 2 million units per year in fiscal year 2013. At the initial stage, the JV is expected to hire 300 employees.